EXPLANATION:

(1). Answer Key: (b)
For now, the maximum limit for every transaction has been set at 10,000 INR and a total transaction of 20,000 INR per day. The limits are expected to change in future.

(2). Answer Key: (c)
Any company which is notified by the central Government as a Nidhi Company under section 620A of the companies Act, 1956. It is a NBFC(and MBFC in particular) doing the business of lending and borrowing with its members or shareholders.

(3). Answer Key: (b)
This app has been developed by the NPCI (National Payment Corporation of India) in association with Juspay. This app is now readily available on playstore which is the android platform the and same for the iOS platform is expected to be launched soon.

(4). Answer Key: (a)
Every RRB is owned by 3 entities with their respective shares as follows:
Central Government -50%
State government-15%
Sponsor bank -35%

(5). Answer Key: (d)
Every bank Maintain a certain % of their total deposits with RBI in the form of Cash and Net demand & Time liabilities. Current CRR is 4%. Every Bank has to pay the amount to RBI on every 15 Days.

(6). Answer Key: (a)
Bank rate is also termed as “Discount Rate” The rate through which RBI charges certain % for providing money to other banks without any security for Long period of time for 90 Days & Current Bank Rate is 6.75%.

(8). Answer Key: (b)
A follow-on public offer (FPO) is an issuing of shares to investors by a public company that is already listed on an exchange. An FPO is essentially a stock issue of supplementary shares made by a company that is already publicly listed and has gone through the IPO process.

(9). Answer Key: (c)
Bhim app is an application for payment through smartphones which is based on the technology of UPI (Unified Payment Interface). After selecting the account the user has to enter a 4 digit code (UPI PIN) to make transactions through the app.

(10). Answer Key: (a)
Individuals whose family income does not exceed Rs. 18000 per annum in Rural areas and Rs. 24000 per annum in Urban and Semi Urban Areas.